Identify the effect on GDP due to the following factors.FactorsEffect on GDPAn improvement in transportation facilities.A decreased investment in infrastructure.An increase in brain drain in a nation.Increase in GDPDecrease in GDPThe use of advanced technologyWhich of the following statements regarding the aggregate production function is true?O A. GDP increases at a decreasing rate for every unit increase in the efficiency units of laborB. GDP increases at an increasing rate for every unit increase in the physical capital stockC. GDP increases by a constant amount for every unit increase in the physical capital stock.O D. GDP decreases by a constant amount for every unit increase in the efficiency units of labor.O O

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Identify the effect on GDP due to the following factors. Factors Effect on GDP An improvement in transportation facilities. A decreased investment in infrastructure. An increase in brain drain in a nation. Increase in GDP Decrease in GDP The use of advanced technology

Identify the effect on GDP due to the following factors. Factors Effect on GDP An improvement in transportation facilities. A decreased investment in infrastructure. An increase in brain drain in a nation. Increase in GDP Decrease in GDP The use of advanced technology

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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As you learned in the most recent chapter, GDP is the broadest measure of economic health in the U.S. Therefore, the discussion forum for the week will ask you to discuss GDP in your own words. Specifically, Business leaders, Government officials, and investors are often fixated on GDP results and economic growth. Why? What does it matter? The same level of interest is given to productivity. What is it and why does it matter in the scheme of things? What does GDP fail to tell us?
Which of the following is NOT included in 2013's GDP? Group of answer choices the commission earned by a headhunter in 2013 when she locates a job for a client the value of a dishwasher manufactured in 2013 but not sold in 2013 the value of a motor that is used in the production of a lawn mower the value of a motorcycle produced in the United States in 2013 and exported to Japan
Which of the following are included in the year’s GDP? which are excluded? Explain your answers Coca-Cola builds a new bottling unit in the United states. Income of a tax accountant working for H&R block. The value of car batteries used in production of electric cars.
Define what is a country’s gross domestic product (GDP) and list and explain its various components.
What Are some of the shortcomings of the GDP
While Gross Domestic Product (GDP) is generally a good indicator of a country’s economic productivity and standard of living, it does have some shortcomings.Why? Discuss two factors that are not included in GDP but that improve economic wellbeing.
Which of the following is an example of investment, as a component of GDP? The purchase of bridges and dams by the government. The purchase of a truck by a delivery company. The purchase of Ford stock by an individual saving for retirement. The purchase of land by an individual.
Which spending category of GDP does each of the following transactions count in? Please enter the letter C, I, G, NX, or N to represent consumption, investment, government spending, net exports, or none. The government paid a total of $30,000 in subsidies to people who had installed solar panels on their homes . Bill spent his $400 social security check on rent and food . Company X produces $5,000 of wine this year but they do not sell it . Your parents pay $8,000 for tuition to UCF . The government pays $1 million to people it hires to collect census data
Which of the following is a way to compute GDP?
What is the difference between GDP and Gross National Product (GNP)? Why do economists look at per capita measures of GDP and GNP when making comparisons between nations?
In the year 2023, the economy produces 100 loaves of bread that sell for $2 each. Calculate the nominal GDP, real GDP, and the GDP deflator for each year. (Use 2023 as the base year.) By what percentage does each of these three statistics rise from one year to the next?
Explain why each of the following should be taken into account when GDP data are used to compare the “level of well-being" in different countries: Population levels The distribution of income The amount of production that takes place outside of markets. The length of the average workweek The level of environmental pollution